The UK inflation rate fell sharply last month as energy costs stabilised, but food bills are still rising at close to record levels.
The latest monthly report from the Office for National Statistics (ONS) shows that overall consumer prices rose by 8.7% in the year to April, down from 10.1% in March.
Energy price rises are slowing, with gas and electricity costs remaining stable in April when compared with the the same month last year when the energy price cap was increased by 54% to reflect the impact of the war in Ukraine on European gas and electricity supplies.
Grocery prices eased slightly, with the annual inflation rate for food and non-alcoholic beverages dipping from 19.2% in March to 19.1% in April.
“The rate of inflation fell notably as the large energy price rises seen last year were not repeated this April, but was offset partially by increases in the cost of second-hand cars and cigarettes,” commented ONS chief economist Grant Fitzner.
“However, prices in general remain substantially higher than they were this time last year, with annual food price inflation near historic highs.”
Chancellor Jeremy Hunt said that food prices remain “worrying high”.
Speaking to the BBC, he welcomed the decrease in the headline rate of inflation but added: “There are things underneath those numbers which show that this battle is far from over.”
